James Galbraith — China and Supply Chains – The White House Review’s Focus on US Depenedence

The pros and cons of capitalism. Chimerica was great while it lasted — until the US elite realized that globalization is not necessarily in the interest of the American Empire unless the US is in complete control of it. Thus, the "pivot to Asia" and the attempt to impose a American"rules-based-order" where the "exceptional" and "indispensable" county makes the rules to suit its imperial interests. What's not to like and what could go wrong?

Naked Capitalism
James Galbraith: China and Supply Chains – The White House Review’s Focus on US Depenedence
Yves Smith

See also

Asia Times
American ‘decoupling’ from China, deconstructed
Urban C. Lehner

The ironic thing is that as the West decouples from China, China will have the space to balance it's economy away from foreign-investment, export-driven toward state-funded, domestic-driven. This is the direction in which China is already heading anyway. So expect import substitution and increased attention on Central Asia including Russia, Africa and Latin America, where China has already made strong inroads in isolating the Global East/South from the Global North/West. After the Modi government, India will also realize that it belong with the Global South/East rather than with its previous colonial masters it still emulates. That is coming to an end.